California Organized Investment Network (COIN) Is a Collaborative Effort Between the California Department of Insurance, the Insurance Industry, Community Affordable Housing and Economic Development Organizations, and Community Advocates.

The Investigation Division investigates suspected fraud committed by insurance agents, brokers, public adjusters, bail agents, insurance companies and other individuals and entities transacting the business of insurance who perpetrate fraud against consumers.

Draft Guidance 1163:4, Submission of Preliminary Rate Information

Pursuant to Senate Bill 1163 (Chapter 661, Statutes 2010), the California Department of Insurance issues the following guidance regarding compliance. Further guidance may be forthcoming in the future.

Preliminary Rate Information

In order to facilitate the Department's review of rates under Insurance Code section 10181.11(b) in a manner that permits correction of potentially unreasonable proposed rates before they are implemented, insurers are encouraged to provide preliminary information regarding rates no later than 120 days before the first date the rates are proposed to be implemented. The preliminary information should contain all information, analysis of factors, and actuarial certification described in Guidance 1163:2. The preliminary information should be provided to the Department through SERFF, with a notation in the SERFF "Filing Description" field that it is preliminary rate information. The preliminary information will be posted to the Department's website, per Insurance Code section 10181.7(a).

Thereafter, a rate filing reflecting the preliminary information, and including any changes or additions to the preliminary information, must be filed with the Department at least 60 days prior to the first date the rates are proposed to be implemented. The rate filing should be filed through SERFF as an amendment to the preliminary information, with a "Note to Reviewer" sent through SERFF indicating that the rate filing has been submitted, and describing any changes or additions. The consumer notice required by Insurance Code section 10113.9 or 10199.1 must be delivered concurrently with the submission of the rate filing to the department.